22 U.S.C. § 262k: Financial assistance to international financial institutions; considerations and criteria

United States active participation in international financial institution activity is based on our national objective of furthering the economic and social development of the nations of the world, in particular the developing nations. The attainment of this national objective is most effectively realized through a world economic and financial system which is both free and stable. Therefore, it is the intent of the United States Congress that United States financial assistance to the international financial institutions should be primarily directed to those projects that would not generate excess commodity supplies in world markets, displace private investment initiatives or foster departures from a market-oriented economy. minimize any projected adverse impacts on such sector or markets of making such loans, credits, or utilization of resources; and avoid whenever possible government subsidization of production and exports of international commodities without regard to economic conditions in the markets for such commodities. Analysis shows that the risks, returns, and incentives of a project are such that it could be financed at reasonable terms by commercial lending services. Analysis by the United States Bureau of Mines indicates that surplus capacity in the industry for the primary product of the defined project would exist over half the period of the economic life of the project because of projected world demand and capacity conditions. United States imports of the commodity constitute less than 50 percent of the domestic production of the primary product in those cases where the United States is the substantial producer of such commodities. The international financial institutions referred to in subsections (a) and (b) are the International Monetary Fund, the International Bank for Reconstruction and Development, the International Development Association, the Inter-American Development Bank, the Asian Development Bank, and the African Development Bank.